Pros
Decent tuition benefit if you have children going to college and they can either (a) make it into Columbia University or (b) your income is too high to get government assistance for your child go to a 3rd party school. If you want to work in the same job, same position, same responsibilities for the next 30 years of your career and you like lazy people who do not care about doing their jobs well.
Cons
Benefit cuts are coming, tuition is the only benefit that is still somewhat good but that will go too. Management is horrible. No promotion opportunities. Alot of "lifers" with no incentive or motivation. A lot of broken / old systems. Negotiate a good salary because once you get there you are not getting anything. Their system for increases is as follows this year 2% for everyone who makes above a certain $ amount in a certain salary grade and more for those who make below a certain level. No performance is taken into account.